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Oklahoma business briefs for March 6, 2013

Oklahoma business briefs for March 6, 2013
Published: March 6, 2013
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OKLAHOMA BRIEFS

Williams to sell 11.25M shares

Williams Partners LP is selling 11.25 million common units at $49.14 each to repay debt, the partnership said Tuesday. Parent company Williams Cos. Inc. will buy 3 million units in a private offering, while underwriters can purchase up to about 1.7 million additional units. Williams Partners plans to use proceeds from the offerings to repay outstanding amounts under its credit facility.

Matrix subsidiary wins contract

A subsidiary of Matrix Service Co. has been awarded a contract worth more than $60 million to engineer and build a greenfield nitrogen fertilizer complex in Iowa, the company announced Monday. Matrix Service Inc. will build a plant for Iowa Fertilizer Co. that can produce up to 2 million metric tons of nitrogen fertilizers a year.

MidFirst finalizes acquisition

MidFirst Bank has finalized its acquisition of Atlanta-based commercial lender Presidential Financial Corp., the bank said Tuesday. The terms of the acquisition were not disclosed. “Our companies' lines of business are highly complementary, creating immediate opportunities and value for MidFirst Bank,” MidFirst Chairman and CEO Jeff Records said in a statement. “Additionally, the combination provides Presidential Financial access to a substantially larger capital base and diversified product offerings for its clients.”

From Staff Reports